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S&P raises Suriname
S&P said it raised its long-term foreign and local currency sovereign credit rating on the Republic of Suriname to CCC from SD and CCC-, respectively.
S&P also raised the issue-level ratings on the restructured $125 million bond due December 2023 to CCC from D and on the $550 million bond due October 2026 to CCC from CCC-.
“We are raising our foreign and local currency sovereign credit ratings to CCC, reflecting our view of the ongoing risks that Suriname might fail to honor its debt obligations over the next 12 months in the absence of some unforeseen positive development,” S&P said in a press release.
The outlook is stable.
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